Compact Disc to pump Rs 927 mn in gaming & publishing biz

MUMBAI: Compact Disc India will be investing a corpus of Rs 927 million (Rs 92.70 crore) for its gaming and publishing business.

The company’s board has also approved the subscription of minimum 50 per cent in the equity of Laser Infomedia, a company to set-up gaming development and publishing project.

Compact Disc India plans to set up a gaming development and publishing studio in Delhi’s NCR region.

Additionally, the company, which had recently announced that soccer legend Pele will be the executive producer on its animation film, has set aside a budget of Rs 3.09 billion (Rs 309 crore) for the movie. This will also include multi-platform gaming and merchandising of the movie.

Compact Disc India has also approved the mid-term loan of $ 10 million offered by iMedia Ventures at a rate, Libor plus 175 basis points for a period of 10 years. This loan will be secured in a foreign Company promoted by CDI.